Currently DGPC officials are in Australia sensitizing BLA on RE Bond
Bhutanese Living Abroad (BLA) can now invest in Renewable Energy (RE) bonds. Each buyer can purchase a minimum of 10 units of RE bond, which are Nu 10,000 or USD 120 and AUD 185. Druk Green Power Corporation (DGPC) will offer 5,000,000 units of RE bond with the face value of Nu 1000 and the term of the bond will be 10 years.
In order to sensitize the BLA, a team from DGPC is currently in Australia, informing potential investors on the investment opportunity, which is scheduled to be launched soon.
An official from DGPC said that the RE bond will be issued exclusively for Bhutanese living abroad with an aim to mobilize RE bond worth of Nu 5 billion (B).
The investment in the RE bond presents an excellent opportunity to invest and contribute to the development of renewable energy and the economic growth of Bhutan.
According to the DGPC’s official, the RE bond that will be issued to BLA is aimed at raising funds in convertible currency, as investments in hydropower and solar energy mostly tend to be in Indian Rupees and in hard currency.
“Domestic bonds would be useful to raise Ngultrum financing only,” the official said, adding that, in future, domestic bonds could also be considered if required.
The official shared that there is a lot of interest generated amongst BLA to avail this opportunity to invest in the Renewable Energy Bond.
The official highlighted that investment in the RE bond is a secured investment backed by the royal government of Bhutan and Druk Holding Investment (DHI).
“This dual backing provides robust financial security and ensures the reliability of the investment for BLA,” the official said.
In addition, the official said that the investment on the RE bond is a 10 year long bond with a long term growth of investment and it will also help in building a sustainable future for Bhutan.
“Investing in Bhutan’s RE bond is not just about financial gains; it’s about nurturing the heritage and ensuring a prosperous future for generations to come,” the official said.
Meanwhile, DGPC is a wholly owned subsidiary of DHI, and the only hydropower generation utility of Bhutan with a turnover of Nu 20B and a net worth of Nu 76B.
The corporation’s vision is to promote, develop and manage renewable energy projects, particularly hydropower, in an efficient, responsible and sustainable manner and to maximize wealth and revenues to the nation.
By Sherab Dorji, Thimphu
